UnsteadyOwl posted... https://www.brookings.edu/articles/sports-jobs-taxes-are-new-stadiums-worth-the-cost/
Here is an article talking about the economic impact of major sports franchises in cities weighed against the public funds that go into building facilities. A quick summary of the conclusions:
* New sports facilities generally have an extremely small effect on overall economic activity and employment
* No recent facility has been self-financing in terms of the effect on tax revenue.
* They do little to attract tourists or new industry.
* Most spending inside a stadium is a substitute for other local spending (such as movies and restaurants).
* Most jobs created by sports stadiums are part-time and/or low wage jobs. Star players making high salaries usually don't live in the city where they play so not much of what they earn goes back into the local economy.
* Major sports leagues have monopoly power and use it to keep the number of franchises below the number of cities that could support a team, which enables owners to use the threat of moving a team to demand public subsidies.
I was going to post this.
I'm an Illinois resident where 2 of our teams are looking for new stadiums.
Bears - have asked for help with infrastructure which I feel is the job of the government to help with that.
White Sox - Got told absolutely not by the governor. Super scummy owner, will try again.
Screw Billionaires wanting tax dollars.